Please find enclosed the transcript of Q4 FY 26 Earning Conference Call held on 27th May,2026.
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Meghna Infracon Infrastructure Ltd shared its Q4 and FY26 earnings in its first formal investor call since transitioning from a securities business to a real estate developer. FY26 revenue grew 16% to INR 46.2 crores and Q4 revenue jumped 52% to INR 18.5 crores, but PAT fell 4.3% to INR 5.6 crores and EBITDA margin slipped from 29% to 22%, which management attributed to project life-cycle costs and the legacy business transition. The company has a project pipeline with total GDV of about INR 2,100 crores across Mumbai and Thane, with planned launches between May-December 2026 adding over INR 600 crores. Management guided to doubling GDV over the next 2-3 years, highlighted 70%+ pre-sales in most projects, and maintained a debt-zero balance sheet strategy.
Mixed near-term optics due to declining margins, but the strong project pipeline, pre-sales traction in key Mumbai micro-markets, and management guidance for margin recovery and GDV doubling could support investor confidence. Shareholders should watch for execution of planned FY27 launches and the outcome of the large Kandivali project (INR 500+ crores GDV), which may require debt funding.